Reminders

Required electronic filing. If you are an organization or trust defined in section 511 and need to file Form 990-T, you are required to file electronically. See When, Where, and How to File, later, for more information.

Tax-exempt and governmental entities. For tax years beginning after 2022, applicable entities (such as certain tax-exempt and governmental entities) can elect to treat certain general business credits as a payment of income tax. See Applicable Entities Making an Elective Payment Election , later.

Advanced manufacturing investment credit. Eligible filers may elect to treat the advanced manufacturing investment credit with respect to a facility as a payment of income tax under section 48D(d). See section 48D and the Instructions for Form 3468.

Alternative minimum tax. The Inflation Reduction Act of 2022 (IRA 2022) amended section 55 to impose a new corporate alternative minimum tax (CAMT) based on the adjusted financial statement income (AFSI) of an applicable corporation. See Form 4626, Alternative Minimum Tax-Corporations, and its instructions, for more information.

Extension of time to file. Use Form 8868 to allow the following entities filing Form 990-T to make an elective payment election to request an extension of time to file Form 990-T.

• The government of any U.S. territory or political subdivision or instrumentality thereof.

• A state, the District of Columbia, or political subdivision or instrumentality or agency thereof.

• The Tennessee Valley Authority.

• An Indian tribal government or a subdivision or instrumentality or agency thereof.

Caution: An elective payment election must be made on a return filed by the due date for the return, including extensions. All entities filing 990-T must use Form 8868 to request an extension of time to file Form 990-T.

Form 4626. Attach Form 4626, Alternative Minimum Tax—Corporations, to your Form 990-T, if applicable. See Alternative Minimum Tax, Line 5, later, for more information.